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Gerona Company authorized the sale of $300,000 of 10%, 10-year debentures on January 1, 2008. Interest is payable on January 1 and July 1. The entire issue was sold on April 1, 2008, at 103 plus accrued interest. On April 1, 2013, $100,000 of the bond issue was reacquired and retired at 99 plus accrued interest. On June 30, 2013, the remaining bonds were reacquired at 98 plus accrued interest and refunded with an issue of $200,000 of 9% bonds which were sold at 100.
Give journal entries for 2008 & 2013 (through June). Assume straight line amortization on the premium or discount. Ignore any potential impact of year to year market value changes on the accounting for the bonds)
Surplus Stores Ltd is a company which frequently buy goods in large quantities and makes alterations to the goods before selling. At 31 Dec 2000 the following items were included i
West Industries is a highly decentralized corporation with independent operating divisions. Each division is evaluated and rewarded based on its total net income. One of the divisi
describe the procedures involved in payroll labour cost accounting
critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system
Tlie subphylum is called Uniramia because of the presence of unbranched appendages. These animals have non-jointed mandibles, uubranched appendages without any palps. They have
. Which of the following is a reason why traditional product costing techniques have become obsolete in a lean operating environment? a. More complex accounting is required in a le
Does Manufacturing Overhead include the following:1)Material Handling - labour for Purchasing Material, Shipping (inbound for raw materials and outbound for finished product - also
Your company completed the site work for the South Pointe office complex. The costs are shown in Figure 11-3. The site concrete labor and landscaping were done by subcontractors. T
A fixed cost is a cost which can't be easily identified or related to a cost per unit or activity of any kind for example a cost which remains constant when production of a service
specimen of cost sheet
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